Analysis for August 7th, 2012
The price is moving in the middle of the H4 chart, the bears are supported by the Super Trend’s line. If the market is able to keep the price below the 3/8
level, the pair will continue falling down towards the 0/8
At the H1 chart Canadian Dollar is moving inside an “oversold zone”. Yesterday the market rebounded from the 0/8
level. There is a possibility that the price may break the -2/8
level during the next several days. In this case the lines at the chart will be redrawn.
Australian Dollar is moving inside an “overbought zone”, the bulls are supported by the H4 Super Trend’s line. Most likely, the price will break the +2/8
level in the nearest future and the lines at the chart will be redrawn.
At the H1 chart the pair is moving above the 5/8
level, thus indicating that the price may continue growing up. I’ve moved the stop on buy order into the black. The closest target is at the 8/8
The price is about to finish the corrective movement. If the pair breaks the Super Trend’s line backwards, the price will start falling down again. Later the pair is expected to reach the 4/8
level or maybe move even lower.
At the H1 chart we can see that the bulls haven’t been able to break the 6/8
level. Most likely, the market will start falling down towards the 2/8
level. If this level is broken, the price may continue moving downwards. After the pair breaks the -2/8
level, the lines at the chart will be redrawn.